Lottery.com Inc

NASDAQ:LTRY   3:51:14 PM EDT
0.44
-0.01 (-2.20%)
Debt Financing / Related, Layoffs, Bankruptcy / Related

Lottery.Com Inc Says On July, 28 Board Determined That Company Does Not Currently Have Sufficient Financial Resources To Fund Operations

Published: 07/29/2022 14:28 GMT
Lottery.com Inc (LTRY) - Lottery.com Inc - on July, 28 Board Determined That Company Does Not Currently Have Sufficient Financial Resources to Fund Operations.
Lottery.com Inc - on July, 28 Board Determined That Company Does Not Currently Have Sufficient Financial Resources to Pay Certain Existing Obligation.
Lottery.com Inc - Company Intends to Furlough Certain Employees Effective July 29, 2022.
Lottery.com Inc - As of July 29, 2022, Company Owed Approximately $425,000 in Outstanding Payroll Obligations.
Lottery.com Inc - Additionally, Company's Capital Resources Are Not Sufficient to Fund Its Operations for a Twelve-month Period.
Lottery.com - Inability to Pay Outstanding Payroll Obligations May Result in Employees Terminating Relationship With Co And/or Pursuing Legal Remedies.
Lottery.com Inc - There is Substantial Doubt About Company's Ability to Continue As a Going Concern.
Lottery.com - If Not Able to Secure Additional Capital Resources Or Otherwise Fund Operations, Will Be Forced to Wind Down Some Or All Operations.
Lottery.com - If Not Able to Secure Additional Capital Resources Or Otherwise Fund Operations, Will Be Forced to Pursue Options for Liquidating Assets.